Close Menu
Global News HQ
    What's Hot

    Essential Guide to Crafting a Successful Daycare Business Plan

    June 8, 2025

    Mini Motorways is getting a creative mode

    June 8, 2025

    Is Hims & Hers Health a Smart Buy Right Now? | The Motley Fool

    June 8, 2025
    Recent Posts
    • Essential Guide to Crafting a Successful Daycare Business Plan
    • Mini Motorways is getting a creative mode
    • Is Hims & Hers Health a Smart Buy Right Now? | The Motley Fool
    • Cudis Bets on Wearables, AI and a Solana Token to Drive the Longevity Movement – Decrypt
    • DappRadar: DeFi and NFT Upticks in May Could Mark Start of Recovery
    Facebook X (Twitter) Instagram YouTube TikTok
    Trending
    • Essential Guide to Crafting a Successful Daycare Business Plan
    • Mini Motorways is getting a creative mode
    • Is Hims & Hers Health a Smart Buy Right Now? | The Motley Fool
    • Cudis Bets on Wearables, AI and a Solana Token to Drive the Longevity Movement – Decrypt
    • DappRadar: DeFi and NFT Upticks in May Could Mark Start of Recovery
    • Teddi Mellencamp & Edwin Arroyave Reunite for Their Daughter’s Latest Milestone | Bravo
    • The Secret to Staying Strong as You Age May be This Type of Workout
    • XRP Price Risks Plummeting Below $2 As Sellers Take Control
    Global News HQ
    • Technology & Gadgets
    • Travel & Tourism (Luxury)
    • Health & Wellness (Specialized)
    • Home Improvement & Remodeling
    • Luxury Goods & Services
    • Home
    • Finance & Investment
    • Insurance
    • Legal
    • Real Estate
    • More
      • Cryptocurrency & Blockchain
      • E-commerce & Retail
      • Business & Entrepreneurship
      • Automotive (Car Deals & Maintenance)
    Global News HQ
    Home - E-commerce & Retail - Joann shoppers to shift purchases to Michaels, Hobby Lobby
    E-commerce & Retail

    Joann shoppers to shift purchases to Michaels, Hobby Lobby

    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Joann shoppers to shift purchases to Michaels, Hobby Lobby
    Share
    Facebook Twitter LinkedIn Pinterest Email


    This audio is auto-generated. Please let us know if you have feedback.

    Dive Brief:

    • As Joann shutters its store footprint, respondents to a recent Numerator survey said they would now shop for those products at Michaels or Hobby Lobby (74%), other online retailers (44%), mass retailers like Target or Walmart (39%), independent or local craft or fabric stores (24%) and dollar or discount stores (23%), according to results shared with Retail Dive.
    • While eight in ten respondents said they were upset by Joann’s closures, nearly seven in ten (69%) said the store’s closures would have a slight to significant impact on them, the survey found. 
    • Among the reasons shoppers bought items from Joann were good sales or discounts (65%), product assortment (65%), convenient locations (50%), good prices (49%) and its brand reputation (43%), per the survey results.

    Dive Insight:

    Craft chain stores Michaels and Hobby Lobby are poised to pick up Joann’s market share. 

    Numerator’s survey noted that shoppers turned to Joann for sewing and crafting supplies (79%), fabrics (58%), holiday and seasonal decor (54%), and home and gardening items (23%). 

    Last month, Joann filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware, a move it made less than a year after its previous bankruptcy filing in March 2024. In its January bankruptcy filing, it listed its liabilities as between $1 billion and $10 billion. 

    This month, Joann sought court approval to close more than 500 of its stores across the country. The company hoped to find a buyer to avoid shuttering entirely. However, this week GA Group and the retailer’s lenders ultimately won the auction, and initiated going-out-of-business sales at all 800-plus Joann locations. In court documents, GA Group and the retailer’s lenders said they would provide cash consideration to pay the company’s lenders in full and offer an extra $105 million credit bid for the majority of Joann’s assets.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous Article2026 Kia EV4: New…Sedan? Hatchback? Transportation? – Kelley Blue Book
    Next Article Trump renews request for justices to allow firing of OSC head – SCOTUSblog

    Related Posts

    eBay Changes ‘Budget Pacing’ for Priority Ad Campaigns

    June 7, 2025

    Signet Jewelers sales up 2% in Q1 earnings results

    June 7, 2025

    Dollar General raises sales outlook, plots next steps for ecommerce and retail media

    June 7, 2025

    JAGGAER names first chief digital officer to advance agentic AI

    June 6, 2025
    Leave A Reply Cancel Reply

    ads
    Don't Miss
    Business & Entrepreneurship
    10 Mins Read

    Essential Guide to Crafting a Successful Daycare Business Plan

    Key TakeawaysA solid daycare business plan is essential for outlining goals, guiding operations, and securing…

    Mini Motorways is getting a creative mode

    June 8, 2025

    Is Hims & Hers Health a Smart Buy Right Now? | The Motley Fool

    June 8, 2025

    Cudis Bets on Wearables, AI and a Solana Token to Drive the Longevity Movement – Decrypt

    June 8, 2025
    Top
    Business & Entrepreneurship
    10 Mins Read

    Essential Guide to Crafting a Successful Daycare Business Plan

    Key TakeawaysA solid daycare business plan is essential for outlining goals, guiding operations, and securing…

    Mini Motorways is getting a creative mode

    June 8, 2025

    Is Hims & Hers Health a Smart Buy Right Now? | The Motley Fool

    June 8, 2025
    Our Picks
    Business & Entrepreneurship
    10 Mins Read

    Essential Guide to Crafting a Successful Daycare Business Plan

    Key TakeawaysA solid daycare business plan is essential for outlining goals, guiding operations, and securing…

    Technology & Gadgets
    1 Min Read

    Mini Motorways is getting a creative mode

    During a showcase at Summer Games Fest, developer Dinosaur Polo Club announced that it will…

    Pages
    • About Us
    • Contact Us
    • Disclaimer
    • Homepage
    • Privacy Policy
    Facebook X (Twitter) Instagram YouTube TikTok
    • Home
    © 2025 Global News HQ .

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version